The four former Directors of ETI Finance were further remanded till 15 January, 2021.
Jeewaka, Asanka, Nalaka, and Deepa Edirisinghe were further remanded by the Colombo Chief Magistrate’s Court today.
The Court will determine on 15 January whether or not to grant bail to the four former Directors.
Jeevaka, Asanka, and Deepa who are Directors of Swarnamahal Jewellers were arrested on Tuesday (05), while Nalaka Edirisinghe surrendered to the CID the following day.
They were charged of misappropriation, cheating, criminal breach of trust, and other offences under the Finance and Business ACT.
The former Directors were accused of unauthorized acceptance of deposits of Rs. 13.7 billion, misappropriation of funds and money laundering.
A Presidential Commission of Inquiry investigating irregularities concerning ETI Finance found that ETI Investments had not followed the proper procedures in their conduct from its inception. (Colombo Gazette)